Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $695.64 billion In 2028 At A CAGR Of 6.5% :

The sporting goods, hobby, musical instrument, and book stores market size has grown strongly in recent years. It will grow from $505.28 billion in 2023 to $540.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to economic conditions, e-commerce and online sales, education and entertainment, hobby enthusiasts.

The sporting goods, hobby, musical instrument, and book stores market size is expected to see strong growth in the next few years. It will grow to $695.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to health and wellness trends, diy and home improvement, aging population, event-based sales. Major trends in the forecast period include healthcare and therapy applications, innovative products, digital entertainment and learning, educational technology integration, sustainability and eco-friendliness.

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Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Major Segments
The sporting goods, hobby, musical instrument, and book stores market covered in this report is segmented -

1) By Type: Sporting Goods Stores, Hobby, Toy, Game Stores, Musical Instrument And Supplies Stores, Other Sporting Goods, Hobby, Musical Instrument, Book Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store

Key Driver - The Sporting Goods, Hobby, Musical Instrument, And Book Stores Market Expected To Benefit From Steady Economic Growth

The sporting goods, hobby, musical instrument, and book stores market is expected to benefit from steady economic growth forecasted for many developed and developing countries. According to International Monetary Fund, the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during the forecast period.

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Prominent Trend - The Rise Of Customization In Sportswear Is Empowering Athletes To Express Their Style

Many sporting goods manufacturers are investing in achieving customization and personalization. With an increasing number of online users, changing demographics, and increased per-capita income, demand for unique and custom-made products have gained demand. Global sporting goods manufacturers such as Nike, Adidas, Puma, ASICS, Sketchers, Fila, etc., are investing more into this. Race Sporting Goods has launched customized sporting clothes to cater to the demands of customers.

Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Players
Major companies operating in the sporting goods, hobby, musical instrument, and book stores market include Decathlon SA, Dick's Sporting Goods Inc., Frasers Group plc, BPS Direct LLC, Guitar Center Inc., Canadian Tire Corporation Limited, Recreational Equipment Inc, Sportsman's Warehouse, Hibbett Sports Inc., Thomann GmbH, Barnes & Noble Inc., Books-A-Million Inc., Half Price Books Inc., Sam Ash Music Corp., Music & Arts Center, Academy Sports + Outdoors, Cabela's Inc., Recreational Equipment Inc., Big 5 Sporting Goods Corp., Modell's Sporting Goods Inc., Dunham's Athleisure Corporation., Olympia Sports Inc., The Sportsman's Guide Inc., Tractor Supply Company, Rural King Supply Inc., At Home Group Inc., Michaels Stores Inc., Hobby Lobby Stores Inc., Jo-Ann Stores LLC, Blick Art Materials LLC, Sweetwater Sound Inc., Musician's Friend Inc., Powell's Books Inc., Strand Bookstore Inc., The Last Bookstore.

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Largest And Fastest Growing Region In The Market
Western Europe was the largest region in the sporting goods, hobby, musical instrument, and book stores market in 2023. Asia-Pacific was the second-largest region in the sporting goods, hobby, musical instrument, and book stores market. The regions covered in the sporting goods, hobby, musical instrument, and book stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Report Structure
3. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Trends And Strategies
4. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market - Macro Economic Scenario
5. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Size And Growth
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27. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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